Harrison Street has acquired an off-market self-storage portfolio comprising 19 properties and 1.4 million square feet located throughout the Southeast for more than $200 million.
The acquired portfolio includes over 12,000 self-storage units located in growing submarkets across Alabama, Florida, Georgia, North Carolina and South Carolina. The portfolio has averaged 90 percent occupancy over the past 12 months, with recent expansions made at six locations to meet excess customer demand. The facilities include a mix of climate-controlled and non-climate-controlled space, designed to offer a variety of price points depending on customer needs.
The properties will be managed by Harrison Street’s established self-storage partner, Reliant Real Estate Management, under the Midgard Self Storage brand, a vertically integrated commercial self-storage operator based in Georgia with significant scale in the Southeast. Harrison Street and Reliant have worked together since 2015
